Organizations around the globe are taking advantage of the opportunities afforded by the Internet of Things (IoT). These organizations see the possibilities of tackling the next opportunity to fuel their company's competitive advantage with IoT sensor data. Organizations can utilize sensor data, process information, and historical patterns to enhance their current operations and processes. However, the information from device sensors also holds the promise for future business models and new product decisions.

There are some estimates that say IoT represents a nearly 15 trillion-dollar opportunity around the globe. This opportunity starts with the chance to continue the streamlining of organization operations and processes using quality programs such as Lean Manufacturing, Six Sigma, and even Total Quality Management (TQM). In each of these practices, IoT offers the chance to inject information from devices that are part of the operational process of an organization. Whether this is a traditional assembly line organization such as manufacturing or supply chain, or a customer-focused care organization in the fields of healthcare or consumer retail sales, organizations can use IoT to streamline their operations with real-time information. This information comes from delivery trucks, pallets, and boxes that fulfill the supply chain; and from the devices that move, assemble, and monitor critical steps in operational production processes.

For organizations deciding whether to engage or not engage in the world of IoT, it is recommended to start a program and commit to that endeavor. By making a commitment to a long-term IoT strategy, organizations will be better equipped for the still-evolving future of IoT device sensor data and have a significant leg up on their competitors, who may consider a wait-and-see approach for their IoT strategy. These organizations will have not only the value in the short-term to harness their costs and improve operations and process, but these committed organizations will also be positioned to have the most impact in the future.